Rego Payment Architectures, Inc, Banking-as-a-Platform Offering, Well Positioned for Expansion into United Kingdom and European Union
Rego Payment Architectures Inc, patented privacy-first platform and award winning super app, Mazoola® recognized as first and only COPPA and GDPR compliant family mobile wallet
BLUE BELL, Pa., Jan. 31, 2023 (GLOBE NEWSWIRE) — Rego Payment Architectures, Inc. (“REGO”) (OTCQB: RPMT), announced its white labeled, Banking-as-a-Platform (“BaaP”) offering, MazoolaEnabledSM, has been awarded the GDPRkids™ Privacy Assured Shield by PRIVO®. The award comes at a critical time, substantiating REGO’s continued discussions on BaaP expansion into the United Kingdom (“UK”) and European Union (“EU”).
PRIVO® is an independent, third-party organization committed to safeguarding children’s personal information collected online. PRIVO aims to help parents and their children exercise control over personal information in the digital world. PRIVO offers certification and compliance programs that support their members to meet privacy compliance for the Children’s Online Privacy Protection Act (COPPA), the EU General Data Protection Regulation (GDPR) as it relates to children and the UK’s Children’s Code.
“It’s an honor to receive this prestigious stamp of approval,” says Peter S. Pelullo, REGO’s Chief Executive Officer. “From inception, REGO has been committed to supporting families and their children in building engaging commerce and money management experiences without compromise on child privacy or safety. Recent events such as the passing of CAADCA and Epic Games’ COPPA privacy violation, highlight that regulatory protection of children is a top priority for both legislators and the business community. PRIVO’s GDPRKids Privacy Assured Shield is a testament to financial institutions that the REGO platform is upholding the highest privacy protections for children. REGO is uniquely positioned to support financial institutions’ expansion into the youth category by removing the fear of violating COPPA, UK or GDPR privacy protection regulations. This award continues to strengthen our position in the marketplace and expansion globally.”
Family-oriented solution provider REGO is a privacy-first platform, best known for its award-winning super app, Mazoola®. With mounting pressure for greater safeguards of children online, and the mobile wallet space projected to surpass $3.5 trillion, REGO provides banking and financial institutions an opportunity to offer a safe, secure banking-as-a-service experience to build lasting, engaging relationships with families.
REGO offers several fintech-for-kids solutions, including MazoolaEnabledSM, a white label version of Mazoola®, and MazoolaPaySM, a buy-flow payment button offering children anonymity while purchasing goods online. Built on the same patented, COPPA and GDPR certified technology, both MazoolaEnabled and MazoolaPay ensure a child’s privacy always remains protected.
About PRIVO
PRIVO is the first and leading global industry expert in children’s online privacy and delegated consent management. PRIVO has been an FTC approved COPPA Safe Harbor since 2004, certifying hundreds of apps, sites and games that are top performing and well-known kid brands, PRIVO has been developing privacy solutions to empower positive, transparent and secure online relationships between companies, families and schools. PRIVO’s signature Kids Privacy Assured Program helps companies navigate the online privacy landscape from COPPA, GDPR to the numerous student digital privacy laws in addition to offering compliant privacy technology solutions that include youth registration, age verification, parental consent and account management. https://www.privo.com/.
About REGO
REGO is a digital solution that enables children to stay safe in today’s tech-first environment. The REGO Digital Wallet platform, Mazoola®, allows parents and guardians to enable online shopping or digital spending at approved retailers, control what funds are available for which purchases, and reward children or pay allowance via the app. REGO is an innovative financial platform uniquely positioned due to its Children’s Online Privacy Protection Act (COPPA) and General Data Protection Regulation (GDPR) compliance. Visit us at regopayments.com.
Safe Harbor Statement
The information in this press release may contain forward-looking statements on our current expectations and projections about future events. These forward-looking statements are not guarantees and are subject to known and unknown risks, uncertainties, and assumptions about us that may cause our actual results, levels of activity, performance, or achievements to be materially different from any future results, levels of activity, performance, or achievements expressed or implied by such forward-looking statements. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to: our ability to raise additional capital, the absence of any material operating history or revenue, our ability to attract and retain qualified personnel, our ability to develop and introduce a new service and products to the market in a timely manner, market acceptance of our services and products, our limited experience in the industry, the ability to successfully develop licensing programs and generate business, rapid technological change in relevant markets, unexpected network interruptions or security breaches, changes in demand for current and future intellectual property rights, legislative, regulatory and competitive developments, intense competition with larger companies, general economic conditions, and other risks as described by us in Item 1.A “Risk Factors” in our most recent Form 10-K; other risks to which our Company is subject; other factors beyond the Company’s control.
All subsequent written and oral forward-looking statements attributable to us, or persons acting on our behalf, are expressly qualified in their entirety by the foregoing. The Company has no obligation to and does not undertake to update, revise, or correct any of these forward-looking statements after the date of this report.
Media Contacts:
Joseph Toczydlowski
REGO Payment Architectures, Inc.
325 Sentry Parkway, Suite 200
Blue Bell, PA 19422
pr@regopayments.com
(o) 267-465-7530
